Wand Capital Corporation amendment to hearing date for final order
15 Mai 2012 - 2:58PM
PR Newswire (Canada)
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES TORONTO, May 18, 2012 /CNW/ - In
connection with the proposed plan of arrangement (the
"Arrangement") involving Wand Capital Corporation ("Wand") and True
North Apartment Real Estate Investment Trust, Wand obtained an
order from the Ontario Superior Court of Justice on Friday, May 18,
2012, which confirms that: (a) the special meeting of the
shareholders of Wand to consider and vote upon the Arrangement
shall proceed on Monday, June 4, 2012 at 9:00 a.m. at Scotia Plaza,
Suite 2100, 40 King Street West, Toronto, Ontario, M5H 3C2 (and not
Monday, May 28, 2012, as set out in paragraph 2 of the interim
order (the "Interim Order") of the Court dated April 30, 2012 in
Ontario Superior Court of Justice Commercial Court File #
CV-12-9704-00CL); (b) the hearing date for final approval of the
Arrangement shall proceed on Tuesday, June 5, 2012 at 10:00 a.m. at
330 University Avenue, 8th Floor, Toronto, Ontario (and not
Tuesday, May 29, 2012, as referenced in paragraph 30 of the Interim
Order and as set out in the Notice of Application in Ontario
Superior Court of Justice Commercial Court File # CV-12-9704-00CL);
and (c) all other terms of the Interim Order, as aforesaid, shall
remain unchanged and in full force and effect. Wand Capital
Corporation The principal business of Wand is the identification
and evaluation of assets or businesses with a view to completing a
Qualifying Transaction, as defined in Policy 2.4 of the TSX Venture
Exchange Inc.'s Corporate Finance Manual. Wand has not commenced
commercial operations and has no assets other than cash. This press
release contains forward-looking statements. Often, but not always,
forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "is expected",
"estimates", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of Wand to be materially different from any future
results, performance or achievements expressed or implied by the
forward-looking statements. Examples of such statements include the
intention to complete the Arrangement and the Qualifying
Transaction and the intention to reorganize Wand into a real estate
investment trust. Accordingly, readers should not place undue
reliance on forward-looking statements. The factors identified
above are not intended to represent a complete list of the factors
that could affect Wand. Completion of the Arrangement and the
Qualifying Transaction is subject to a number of conditions,
including but not limited to, TSXV acceptance and majority of the
minority shareholder approval. Where applicable, the Arrangement
and the Qualifying Transaction cannot close until the required
shareholder approval is obtained. There can be no assurance that
the transaction will be completed as proposed or at all. Investors
are cautioned that, except as disclosed in the management
information circular to be prepared in connection with the
Arrangement, any information released or received with respect to
such transaction may not be accurate or complete and should not be
relied upon. Trading in the securities of a capital pool company
should be considered highly speculative. The TSXV has in no way
passed upon the merits of the Arrangement and has neither approved
nor disapproved the contents of this press release. Neither the
TSXV nor its Regulation Services Provider (as that term is defined
in policies of the TSXV) accepts responsibility for the adequacy or
accuracy of this release. Wand Capital Corporation CONTACT: Daniel
Drimmer, Chief Executive Officer, at Tel: (416)234-8444,
ddrimmer@starlightinvest.com, or Martin Liddell, ChiefFinancial
Officer, at Tel: (416) 234-8444, mliddell@starlightinvest.com
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